Does Just In Time Inventory Make Sense For the Global Supply Chain?
In this episode, Wilson Lau and Sam Joshi, talk about “Just in time inventory” and some trends that make “just in time herbal ingredients” harder to secure these last few years. The conversations provides an extensive overview of the stakeholders involved the global herbal supply chain including:
- Government / Regulators
- Farmers / Wildcrafters
- Aggregators
- Processors
- Traders / Exporters
- Logistic Providers
- Importers
- Manufacturers
- Distributors
- Brands
- Marketers
- Retailers /Platforms
- Consumers
Wilson and Sam then discuss the trends that specifically related to sourcing ingredients in 2022 and how they have changed in 2022. They cover everything from international logistics to shipping container shortages. They also talk about:
- The New Cost of Crops
- Hoarding of Ingredients
- Costs of Regulations
- Labor Shortages
- Environmental and Weather Patterns
- Crop Destruction
They also explore the growing complexities surrounding getting herbs and botanicals into the country, including the challenges with clearing and qualifying materials:
The conversation ends with a look at the importance of data. As a manufacturer or brand, data and analytics is no longer a nice to have, it’s a must have. It’s an investment well worthy of spending the money/time/effort.
Learn more: https://nuherbs.com/
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